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Cash | Accounts Receivable | |||||||
Debit | Debit | Debit | Debit | |||||
Beginning | $ 42,000 | 4 | $120,000 | Beginning | $ 25,000 | 3 | $140,000 | |
3 | $140,000 | 5 | $ 31,400 | 1 | $185,000 | |||
6 | $ 10,000 | |||||||
Ending | $ 20,600 | Ending | $ 70,000 | |||||
Accounts Payable | Common Stock | |||||||
Debit | Debit | Debit | Debit | |||||
5 | $ 31,400 | Beginning | $ 8,400 | Beginning | $ 24,000 | |||
2 | $ 45,800 | |||||||
Ending | $ 22,800 | Ending | $ 24,000 | |||||
Retained earning | Dividend | |||||||
Debit | Debit | Debit | Debit | |||||
Dividends | $ 10,000 | Beginning | $ 34,600 | 6 | $ 10,000 | Retained Earning | $ 10,000 | |
Income Summary | $ 19,200 | |||||||
Ending | $ 43,800 | Ending | $ - | |||||
Service Revenue | Operating Expense | |||||||
Debit | Debit | Debit | Debit | |||||
Income Summary | $185,000 | 1 | $185,000 | 2 | $ 45,800 | Income Summary | $ 45,800 | |
Salaries Expense | Income Summary | |||||||
Debit | Debit | Debit | Debit | |||||
4 | $120,000 | Income Summary | $120,000 | Operating Expense | $ 45,800 | Service Revenue | $185,000 | |
Salaries Expense | $120,000 | |||||||
Retained Earning | $ 19,200 | |||||||
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At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts: Account Balance Cash $ 42,000 Accounts receivable 25,000 Accounts payable 8,400 Common stock 24,000 Retained earnings 34,600 The following events apply to Oak Consulting for Year 2: Provided $185,000 of services on account. Incurred $45,800 of operating expenses on account. Collected $140,000 of accounts receivable. Paid $120,000 cash for salaries expense. Paid $31,400 cash as a partial payment on accounts payable. Paid a $10,000...
At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts: Account Balance Cash $ 42,000 Accounts receivable 25,000 Accounts payable 8,400 Common stock 24,000 Retained earnings 34,600 The following events apply to Oak Consulting for Year 2: Provided $185,000 of services on account. Incurred $45,800 of operating expenses on account. Collected $140,000 of accounts receivable. Paid $120,000 cash for salaries expense. Paid $31,400 cash as a partial payment on accounts payable. Paid a $10,000...
The following information applies to the questions displayed below.] At the beginning of 2016, Oak Consulting had the following normal balances in its accounts: Balance $42,000 Accounts receivable 25,000 8,400 24,000 34,600 nt Cash Accounts payable Common stock Retained earnings The following events apply to Oak's Consulting for 2016: 1. Provided $185,000 of services on account. 2. Incurred $45,800 of operating expenses on account. 3. Collected $140,000 of accounts receivable. 4. Paid $120,000 cash for salaries expense. 5. Paid $31,400...
At the beginning of 2016, Oak Consulting had the following normal balances in its accounts: Account Balance Cash $42,000 Accounts receivable 25,000 Accounts payable 8,400 Common stock 24,000 Retained earnings 34,600 The following events apply to Oak's Consulting for 2016: 1. Provided $185,000 of services on account. 2. Incurred $45,800 of operating expenses on account. 3. Collected $140,000 of accounts receivable. 4. Paid $120,000 cash for salaries expense. 5. Paid $31,400 cash as a partial payment on accounts payable. 6....
Required information Exercise 3-22A Recording events in the general journal, posting to T-accounts, and preparing closing entries LO 3-1, 3-2, 3-3, 3-4 [The following information applies to the questions displayed below.] At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts: Account Cash Accounts receivable Accounts payable Common stock Retained earnings Balance $ 42,000 25,000 8,400 24,000 34,600 The following events apply to Oak Consulting for Year 2: 1. Provided $185,000 of services on...
Required information Exercise 3-22A Recording events in the general journal, posting to T-accounts, and preparing closing entries LO 3-1, 3-2, 3-3, 3-4 [The following information applies to the questions displayed below.) At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts: Account Cash Accounts receivable Accounts payable Common stock Retained earnings Balance $ 42,000 25,000 8,400 24,000 34,600 The following events apply to Oak Consulting for Year 2: 1. Provided $185,000 of services on...
Required information Exercise 3-22A Recording events in the general journal, posting to T-accounts, and preparing closing entries LO 3-1, 3-2, 3-3, 3-4 The following information applies to the questions displayed below.) At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts: Account Cash Accounts receivable Accounts payable Common stock Retained earnings Balance $ 42,000 25,000 8,400 24,000 34,600 The following events apply to Oak Consulting for Year 2: 1. Provided $185,000 of services on...
! Required information [The following i ormation applies to the questions displayed below.) At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts: Account Cash Accounts receivable Accounts payable Common stock Retained earnings Balance $ 42,000 25,000 8,400 24,000 34,600 The following events apply to Oak Consulting for Year 2: 1. Provided $185,000 of services on account 2. Incurred $45,800 of operating expenses on account. 3. Collected $140,000 of accounts receivable. 4. Paid $120,000...
Saved Help Save Required information The following information applies to the questions displayed below.) At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts: Account Cash Accounts receivable Accounts payable Common stock Retained earnings Balance $ 31,400 20,400 14,100 25,600 12.100 The following events apply to Oak Consulting for Year 2: 1. Provided $73,800 of services on account. 2. Incurred $3,400 of operating expenses on account. 3. Collected $45,300 of accounts receivable. 4. Paid...
HW Saved Help Save & E Che Required information (The following information applies to the questions displayed below.) At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts: Account Cash Accounts receivable Accounts payable Common stock Retained earnings Balance $ 31,400 20,400 14.100 25,600 12,100 The following events apply to Oak Consulting for Year 2: 1. Provided $73,800 of services on account. 2. Incurred $3,400 of operating expenses on account. 3. Collected $45,300 of...